Stocks falling to new 52 week lows on May 4 are Cadence Pharmaceuticals Inc, Tumi Holdings, Inc, Mechel OAO, Merge Healthcare Incorporated, and Zipcar, Inc. Investors are selling the stock and pushing it lower because they may think that these stocks were overvalued. This could be caused by earnings not meeting expectations, investor speculation, or a fall in market growth.
Shares of Cadence Pharmaceuticals Inc. (CADX) fell by 12.5% or $-0.45/share to $3.15. In the past year, the shares have traded as low as $3.25 and as high as $10.00. On average, 369190 shares of CADX exchange hands on a given day and today's volume is recorded at 397828. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $3.63 area but be careful because the stock may face selling pressure at this level.
Shares of Tumi Holdings, Inc. (TUMI) fell by 3.89% or $-0.95/share to $23.45. In the past year, the shares have traded as low as $24.07 and as high as $28.70. On average, 2647240 shares of TUMI exchange hands on a given day and today's volume is recorded at 310546. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $25.52 area but be careful because the stock may face selling pressure at this level.
Shares of Mechel OAO (MTL) fell by 5.16% or $-0.40/share to $7.35. In the past year, the shares have traded as low as $7.66 and as high as $27.43. On average, 3304890 shares of MTL exchange hands on a given day and today's volume is recorded at 1525108. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $9.67 area but be careful because the stock may face selling pressure at this level.
Shares of Merge Healthcare Incorporated (MRGE) fell by 3.28% or $-0.13/share to $3.83. In the past year, the shares have traded as low as $3.95 and as high as $7.23. On average, 822610 shares of MRGE exchange hands on a given day and today's volume is recorded at 146466. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $5.55 area but be careful because the stock may face selling pressure at this level.
Shares of Zipcar, Inc. (ZIP) fell by 5.31% or $-0.60/share to $10.7. In the past year, the shares have traded as low as $11.12 and as high as $28.76. On average, 486300 shares of ZIP exchange hands on a given day and today's volume is recorded at 130644. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $13.56 area but be careful because the stock may face selling pressure at this level.
